Rich Kids of Instagram Reality Show in Development

If you've ever seen the Tumblr Rich Kids of Instagram, you know what it is to feel simultaneously enthralled and enraged. The spoiled spawn of the one percent post pictures of themselves sipping champagne on private jets, being chauffeured in Bentleys , and posing on yachts in the Mediterranean.

Now, their lavish lifestyle is getting the not-so-harsh reality treatment with a new show, Rich Kids of Beverly Hills.

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Banking on the success of such similar (though scripted) shows as Beverly Hills 90210, this unscripted reality series will center around a group of 20-something friends living a life of excess in the posh neighborhood of Beverly Hills. Using the fortunes of their billionaire parents, this young generation of the Hollywood elite will party, play, and inevitably deliver some grade-A rich people drama.

Rich Kids of Beverly Hills will be produced by ITV Studios American in association with Leepson Bounds Entertainment and is currently in the early stages of development with the E! Network -- better known as the network of stars we love to hate.

While it pains us to hear that these Internet brats are bringing their billion dollar lifestyle to broadcast, we're even more disgruntled that we're probably going to watch it.

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